J&K removes 15 NoCs to promote industry in UT

The administration has already signed a string of MoUs with companies interested in investing in J&K. A senior official said one such MoU was signed this month with JSW Steel Coated Products Ltd, which is planning to set up a plant in Srinagar wit...

BCCL - Non Copyright
The lieutenant governor said consistent policy actions are being taken to encourage large-scale investment
SRINAGAR: To create a business-friendly environment in Jammu and Kashmir, the administration has eliminated 15 ‘no objection certificates (NoCs)’, a prerequisite for setting up industry in the Union Territory and has introduced a single-window clearance system for investors.

The administration has already signed a string of MoUs with companies interested in investing in J&K. A senior official said one such MoU was signed this month with JSW Steel Coated Products Ltd, which is planning to set up a plant in Srinagar with an initial investment of about Rs 75 crore and production capacity of 1.2 lakh tonne per annum. The MoUs mention that the UT would help investors obtain necessary permissions, registrations, approvals and clearances from the concerned authorities.

The latest measures for simplifying the process for establishing business in the state were taken in a meeting of the administrative council of J&K on Saturday under the chairmanship of lieutenant governor Manoj Sinha. The meeting resolved that Udyog Aadhar Memorandum, as per the condition of the Centre, shall be the only requirement to set up a business unit.


The bare minimum NoCs/approvals now needed are related to departments of pollution control board (CTE/CTO), fire and emergency and revenue for change in land use.

“Recent decisions in the business sector, including the new Industrial Developmental Scheme, will give a fillip to J&K’s economy. These ambitious structural reforms will not only improve J&K’s ranking in the Ease of Doing Business Index but also create an unshakeable foundation for business entities, industries planning to invest in the UT,” Sinha was quoted as saying in the meeting.

The UT administration is planning to soon launch end-to-end online services for the businesses.
ADVERTISEMENT
Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › News › Politics › J&K removes 15 NoCs to promote industry in UT
Text Size:AAA
Success
This article has been saved

*

+